Peach Property Group focuses portfolio on residential properties by selling a commercial property near Düsseldorf
Following this transaction, Peach Property Group will further focus on the residential property sector, in line with its strategy. The proceeds from the sale will be reinvested in additional high-yielding residential properties, predominantly in Germany.
Peach Property Group had acquired the commercial property located in the centre of Erkrath-Hochdahl with lettable space of 6,700 m? in 2012. Through active asset management and major leasing successes, the property’s market value has risen considerably since the acquisition. A particular impact had the lease extension signed with EDEKA Rhein-Ruhr ahead of time for 16 year until the end of 2031. Peach Property Group can now realise this appreciation in value by the sale of this commercial property.
Dr. Thomas Wolfensberger, CEO of Peach Property Group, comments: “By selling our commercial property in Erkrath, we are continuing to make the residential sector our strategic priority. Not only did we increase the property’s market value through successful asset management, but we now can realise this value, too. Additionally, this transaction will provide us with additional funding for further growth.”
About Peach Property Group AG
Peach Property Group AG is a property investor and developer focused on investments in Germany and Switzerland. The Group stands for long time experience, competence and quality. Innovative solutions for modern housing needs, strong partnerships and a wide value chain complete the profile of the Group. The portfolio consists of an increasing number of high yield investment properties, typically in B-cities in close reach to metropolitan areas. In addition, the Group develops properties for its own portfolio or for the sale as condominium. Developments for sale focus on A-locations and encompass attractive architecture and high level furnishing for an international clientele. The business activities of the Group cover the entire value chain, from property acquisition and site selection to active asset management and finally to the sale or lease of properties.
Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366).